Letter to all,
To all of our channel partners, entrepreneurs around the world, and to my dearest team Bizwit; as we all are facing extraordinary circumstances of this pandemic COVID-19 and its challenges together, what we need the most is to stay safe and healthy and wait for this situation to get over soon. Our first priority is the health of our employees and their families and, so far, we have been fortunate, there have been zero cases of COVID-19 positive, and zero contact with any related/infected people. While others have to be quarantined in our city, none of our community needed to go to the hospital and we are very grateful for that.
Since we have always offered work-from-home to our team voluntarily, none of the team members have to face any difficulties in working and providing their best efforts. As of now our offices are closed and will remain the same till we don’t get the go-ahead from the responsible govt. bodies to do so.
I am personally in my third week at home. I miss our office and team meetings, going out cafes & restaurants. Nevertheless, I found some positive in this; I am spending more time in the kitchen and following cooking hobby a lot. I suggest you all should get too, involved in pursuing your hobbies whether it is guitar, flute or learning new languages. This will help you to spend quality time inside home and I am pretty sure you’ll get your positive in these.
Now the pressing matter, as of this April 1, 2020, we have just entered a new quarter of business, and since the whole world is facing the risk of recession and decline in the economy, we are not any different, just like all the startups, we will be facing some difficulties to get the revenues in the coming months. However the good news is we have never been in any debt and since we always believe in keeping good relations with our sales channel and partner from all of the world, we hope and believe that we shall manage to get the minimum business to sustain and grow in this crucial time.
Being an entrepreneur, we are nervous about our business results, as I’m sure you are about yours. A global recession is a certainty for Q2. Those indebted companies without profits will fall first. Some news about the global economy; the collapse of WeWork is a forgone conclusion, but other champions of the so-called sharing economy, such as Uber and Airbnb, will be fighting for survival.
For small businesses like ours, the only positive factor is that we don’t get involved in huge debts. We can and we will sustain and grow. Bizwit is a small company with a global footprint. We run our own HR, legal, finance and IT from a single office situated in India. We have a comparatively small team size which is highly efficient in performing. The company is 100% owned by its senior employees and has never had a day of debt. The fact that the businesses are about to witness slow growth, we have now started to sell annual research subscriptions, which would help us to get cash position annually basis to enjoy smooth operations. While accepting that there may be some risk that we may not be able to get a good amount of traction for this service we are happy to renegotiate the term and conditions with the channel partners and consultants from all around the world as to get deals to be closed soon.
We know that when recessions hit, budgets shrink and so is the pricing. Thus, if you want to support us, then there is certainly one thing you can do. Please sign those annual contracts soon! We hope that the spirit of partnership with our customers shines through, while being mindful that many of you are experiencing far greater difficulties than the relatively simple one of which number to present in a business plan.
Finally, thank you for your support.
We wish you and your family good health. Amol Meshram, Director Bizwit Research & Consulting LLP